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6516 18th Avenue

NY, NY 11204

$3,188,888

Office For Sale

Property Details

  • Property Type Office

Description

Location, Location, Location!!!" has never been more apt. This Mixed Use building is sitting on the busiest junction in Bensonhurst, 18th avenue and 65th street, and has extremely rare C4-2 zoning.Presently, the building features a store and 2 residential units, fully occupied with below-market residential rents allowing for great upside. The store underwent serious renovation last year by a national tenant and has 19 years left of a 20-year lease in place with above-average annual rent escalations, topping out at 6% over the last five years, and strong financials to back it up. The two residential units are a 2 bedroom and a 1 bedroom with both tenants in good standing. Most desirable, however, is the C4-2 zoning, which allows for 5610 sq ft of buildable on the lot, far above neighboring properties.  Coupled with the rent escalations built into the commercial lease, the potential of redevelopment makes this property extra appealing.Taxes are $16,360 annually, partially supported by the commercial tenant, and expenses are very low.This is a co-exclusive listing between Corcoran and Douglas Elliman. Buyers Brokers must CYOF.  Please contact us for more details.
Dan Brady 718-422-2529
Dan Brady 718-422-2529